Guideline Value for Sundaram Colony 2nd Main Road

Sundaram Colony 2nd Main Road guideline value

The current guideline value of Sundaram Colony 2nd Main Road is Rs 2,900 per sq.ft, effective from 1 July 2024. This road is located in Selaiyur village under the Selaiyur SRO, and it falls under the Residential Special Type - I land classification.

How the guideline value of Sundaram Colony 2nd Main Road has changed

Over the years, the guideline value for Sundaram Colony 2nd Main Road has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 600 per sq.ft. This increased dramatically to Rs 2,700 per sq.ft in 2012, marking a rise of 350%. However, it decreased to Rs 1,809 per sq.ft in 2017, which was a decline of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, and most recently, it has increased to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 383%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sundaram Colony 2nd Main Road is above this median.

• Sundaram Colony 2nd Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 2nd Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 1st Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 3rd Cross Street: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 3rd Main Road: Rs 2,900 per sq.ft (2024)
• Sundaram Colony 1st Main Road: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sundaram Colony 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sundaram Colony 2nd Main Road?

The Sub Registrar Office that covers Sundaram Colony 2nd Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in Selaiyur

The guideline value is a crucial factor during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum price at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the prevailing market conditions. It is essential to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sundaram Colony 2nd Main Road?

The current guideline value of Sundaram Colony 2nd Main Road is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of 383% over the years.

What is the land classification for Sundaram Colony 2nd Main Road?

Sundaram Colony 2nd Main Road falls under the Residential Special Type - I land classification.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 29,00,000 would incur a stamp duty of Rs 2,03,000 at 7%.